Bhubaneswar: Paradeep Phosphates Limited (PPL), one of India’s leading fertiliser manufacturers, on Friday signed an MoU with the Odisha govt to invest Rs 4,750 crore in developing a new chemical and fertiliser manufacturing facility in the state.The MoU was signed during India Chem-2026 in Mumbai in the presence of chief minister Mohan Charan Majhi. The proposed investment will be directed towards setting up a new chemical plant and a bio-fertiliser manufacturing facility besides supporting initiatives aimed at improving farm productivity.The agreement was signed by Hemant Kumar Sharma, additional chief secretary, Industries, on behalf of the state govt, and N Suresh Krishnan, managing director and CEO of Paradeep Phosphates Limited, representing the company.The investment is expected to strengthen Odisha’s position as an emerging hub for the chemicals and fertilisers sector while boosting the state’s industrial ecosystem. Official sources said the proposed projects are likely to generate substantial direct and indirect employment opportunities across the value chain.PPL, which has a significant manufacturing presence in Odisha, said the planned expansion reaffirms its long-standing association with the state and its commitment to supporting India’s fertiliser requirements. The company added that the investment would help deepen integration between manufacturing, agriculture and regional economic development.“The MoU also reflects the Odisha govt’s broader push to attract investments in manufacturing and value-added industries. Through focused industrial development initiatives, the state aims to enhance its competitiveness in chemicals, fertilisers and allied sectors while fostering sustainable economic growth,” Sharma said.